8 traders lost 30 billion dollars
Famous losers, entangled in dubious transactions that devastated the accounts of their employers and end up behind bars.
Kweku Adoboli - UBS - $ 2 billion - in 2011
On Thursday, the largest Swiss bank UBS announced that it has suffered a loss of $ 2 billion due to unauthorized trader transactions. After this news UBS shares have fallen by 11%.
London police have arrested a suspect in the fraud 31-year-old trader Kweku Adoboli. Which specific operations, it could lose $ 2 billion, it is still unknown. BBC reported that Adoboli he informed the bank about the loss. It is also known that in London the hapless trader rented an expensive apartment and was a frequenter of expensive wine boutiques and shops.
Jerome Kerviel - Société Générale - $ 6, 7 billion - in 2008
In January 2008, Société Générale Bank found that as a result of operations of one of the traders lost $ 6, 7 billion Jerome Kerviel, which put the bank on the brink of financial collapse, for 2 years without a permit to open a position of almost € 50 billion -. ACTUALLY, exceeds the market capitalization of the Société Générale, placing on the European stock indices. In an open trial against him Kerviel claimed that the bank's management was aware of its operations and closed his eyes to them. He even managed to write a book, "Down the spiral: the trader's memoirs," which blamed the incident banking system, where traders "as street prostitutes" have to earn any means. Nevertheless, in 2009, he was sentenced to three years in prison and ordered to pay compensation to the bank.
Howard Hubler - Morgan Stanley - $ 9 billion - in 2007
The trader Howard Hubler, one of the protagonists of the last financial crisis, lost $ 9 billion in 2007 on mortgage rates. After the crisis, he founded Loan Value Group LLC, to mediate between lenders and homeowners whose mortgage debt exceeds the value of the mortgaged property.
Brian Hunter - Amaranth Advisors - $ 6, 5 billion - in 2006
Amaranth Advisors hedge fund went bankrupt after having lost two thirds of its assets in 2006. Canadian trader Brian Hunter started bringing huge revenue fund in 2005, putting the growth in natural gas prices after the hurricane "Katrina". At this time, Amaranth Advisors controlled 10% of the natural gas market. But in 2006, the price suddenly went down, it cost the fund $ 6, 5 billion. The US Federal Energy Commission began an investigation, suspecting Hunter at manipulating gas prices. In April 2011, he was fined $ 30 billion.
John Rasnek - Allied Irish Bank - $ 691 million - in 2002
In 2002, Allfirst Bank, a member of a group of Allied Irish Bank, lost $ 691 million due to a series of unsuccessful bids currency trader John Rasneka. Like other unsuccessful traders, Rasnek several years concealed its losses in the hope to win. First, he lost a large sum in 1997 by buying the yen before the fall of the Japanese market. Thereafter losses are only growing, but managed to forge Rasneku statements, convincing the bank that it generates income. In 2002 he was appointed a bonus of $ 220 000. But instead, he was sentenced to 7 years in prison.
Yasuo Hanamaki - Sumimoto Corporation - $ 2, 6 billion - 1996
In 1996, a Japanese corporation Sumimoto posted a loss of $ 2, 6 billion due to fraud Yasuo Hanamaki, who led the company trading in copper. Hanamaki called "Mr. five percent" - is a fraction of the copper market he once controlled. For ten years he made unauthorized transactions and manipulated in copper prices. In 1997, Hanamaki sentenced to 8 years in prison.
Nick Leeson - Barings Bank - $ 1, 4 billion - in 1995
The oldest British merchant bank Barings went bankrupt in 1995, after a broker Nick Leeson lost $ 1, 4 billion in futures on the Nikkei. Leeson began to lose money in 1992, but was hoping to fight back and to hide the damage from the London guide, using a special account and forged statements. January 16, 1995 Leeson placed a considerable amount of the rapid growth of the Japanese market, and in the morning on January 17 the city of Kobe was devastated by an earthquake - Asian markets have fallen. Leeson tried to rectify the situation, putting on a quick recovery, but lost again. He would have sentenced to 6 and 5 years in prison. After his release, Leeson wrote the book "rogue trader: I bankrupted Barings", on which was filmed a movie with Ewan McGregor.
Toshihide Iguchi - Daiwa Bank - $ 1, 1 billion - 1995
Toshihide Iguchi, who worked on one of the largest Japanese banks at Daiwa, started to lose money in 1983, but concealed it from the bank's management. From 1984 to 1995 he made 30,000 trades without permission, during this time of loss increased from $ 70,000 to $ 1 1 billion. Due to the machinations with reporting bank Daiwa had to withdraw from the US market. Iguchi was sentenced to 4 years in prison. After his release, he has also written a book - "My lesson to a billion dollars."